August 12, 2026 | Gold and Silver Just Broke Levels We’ve Been Watching

Below are the charts we have been showing subscribers for over a month.

Gold and silver have both been fighting the same fight for months — grinding under long-term downtrend lines while bulls waited for a real break. Last week, both charts finally took it.

Gold

Gold broke back above the descending trendline that’s capped every rally attempt since the January top near $5,624. Price is sitting around $4,406 right on top of that broken line and the 50-day average at $4,388 — which is exactly where you’d expect a pause after a move like this.

If gold keeps pushing, the next levels to watch are $4,499, then $4,778.5, then $4,898.5. If it stalls and pulls back to retest the line it just broke — the $4,100–4,150 zone — that’s not a red flag. Retests of a fresh breakout are normal, and it’s actually where the better entries tend to show up. The level that would change the picture is $3,932.8; below that, the bigger support sits at $3,438.7.

Silver

Silver’s doing the same thing at the same time. Price is around $65.26, running into resistance at $65 and its own longer-term downtrend line simultaneously — two ceilings meeting at once, which is why it’s worth watching closely here. A clean break through opens the path to $68.86, then $70.61–70.80. If it doesn’t hold, there’s a long gap down to major support in the $50–53 range.

What’s actually behind this

The technical picture is the easy part to see on a chart. The bigger story is what’s driving it: government debt loads climbing across every major economy at once, currency debasement becoming a mainstream conversation instead of a fringe one, and central banks buying gold for reserves at a pace we haven’t seen in decades. Silver’s got an added push from industrial demand tied to the solar and grid buildout.

We don’t play the multi-year price-target game here — too much can shift between now and whenever that target would hit. What matters is whether the structural case holds, and letting the charts tell us the probabilities from here rather than guessing.

Keep your head up!

Martin

Martin Straith August 12th, 2026

Posted In: The Trend Letter

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